Drilling Update

Ascent Resources PLC
12 June 2007

      Ascent Resources plc / Epic: AST / Index: AIM / Sector: Oil and Gas

                Ascent Resources plc ('Ascent' or the 'Company')

                      Drilling Update - Hungary and Italy



Ascent Resources plc, the AIM traded oil and gas exploration and production
company, in conjunction with its partners, has completed the drilling and
logging of the VAM-1 well in the Nyirseg exploration permits of north-east
Hungary.  Despite sampling good quality gas from a short duration open-hole test
at 1,614m in the target Miocene formations, the decision has been made to
abandon this well.  The partnership is however continuing the planning of the
development centred on the PEN-104 discovery.  Meanwhile in Italy, the drilling
rig is returning to the Frosinone exploration permit to deepen and test the
Anagni-1 well.



The VAM-1 exploration well reached a total depth of 2,010m and was the fourth
well drilled by Ascent's 90% owned Hungarian subsidiary PetroHungaria kft.
These wells are in the Nyirseg exploration permits and were drilled under the
terms of the farm-in agreements with DualEx of Canada and PetroPequnia of
Sweden.  The drilling of this fourth well concludes this phase of the
exploration and completes the obligations under the farm-in.  Participation in
the permits for the on-going exploration and future production are DualEx 37.5%,
PetroPequnia 2% and PetroHungaria kft as operator with 60.5% and from now on the
costs and revenues will be divided according to these working interests.



The four wells, in addition to the 2-D seismic shot by the PetroHungaria in
2005, provide a vast amount of modern exploration data across the large 2,483 sq
km Nyirseg permits.  The wells provide comprehensive coverage throughout the
permits: one was located near the northern boundary, one near the southern
boundary whilst the other two were centrally located and close to the proven
reserves of the Peneszlek field.  The exploration data will form the basis for
the next phase of the exploration effort and partners have already begun to
discuss the options for the activities to further explore and appraise the
hydrocarbon potential of the area.



PetroHungaria is leading the planning of the development centred on the PEN-104
gas discovery (announced 14 November 2006) and incorporating the PEN-9 and
PEN-12 discovery wells. The re-development of the previously productive
Peneszlek field is being considered as an addition to this modular development
as will any future discoveries within the permit.



Ascent's Managing Director Jeremy Eng said, 'The farm-in programme has now been
completed with the drilling of the four wells.  The new exploration data, the
gas show from VAM-1 as well as the PEN-104 gas discovery will provide the
information that will enable us to understand the prospectivity of the area.
The development project at Peneszlek will prove the productivity of the
Pannonian horizon in addition to the already proven underlying Miocene
volcaniclastic section.'



In Italy, having received final authorisations from governmental agencies, the
rig is now on route back to the Anagni location in the Frosinone exploration
permit.  The Anagni-1 well was temporarily completed to allow time for the
procurement of specialist equipment both to enable the well to be deepened, to
investigate more of the carbonate sequence, and to install the pump necessary
for the testing operations to evaluate the oil reservoir.



The information contained in this announcement has been reviewed and approved by
both Dr Eloi Dolivo, Ascent's Exploration Manager and Dr Clive Ninnes, Ascent's
Engineering Manager.  Dr Dolivo (member of the AAPG) and Dr Ninnes (member of
SPE) both having 26 years experience in the evaluation of hydrocarbon resources.



This announcement is timed for simultaneous release in the London and Toronto.



                                  * * ENDS * *



For further information visit www.ascentresources.co.uk or contact:

Jeremy Eng        Ascent Resources plc                   Tel: [phone]

Hugo de Salis     St Brides Media & Finance Ltd          Tel: [phone]



Notes:

Ascent Resources has a portfolio of over 20 gas and oil projects across six
countries in Europe. The projects are onshore in Italy, Switzerland, Hungary,
Spain, Slovenia and offshore Netherlands.  Ascent is at present drilling a
programme of exploration wells across its portfolio.  The Company operates
Spain's only onshore oilfield where production currently averages over 110
barrels of oil per day. With the stable European gas market, Ascent's portfolio
favours gas over oil. With the exception of the Netherlands, all of its projects
are located onshore where operating and development costs are substantially
lower than they are offshore.


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